Apex, Ann & Hope, Bradlee’s, Caldor — the latest big box retailers to go or drastically downsize, the latest to leave hundreds of part and full-time employees wondering about their futures.
It’s the evolution of retail.
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We don’t have to go far into Rhode Islanders memories to recall the names of other, long-time retailers that went out of business after many years, chief among them Gladdings and the Outlet Company.
Now, it’s the superstores like Wal-Mart and this thing we call e-commerce that are driving the big box retailers out of business. It was the same with food stores, from the corner market to the supermarket (Almacs if you recall), to the super supermarket, where you can buy everything from the charcoal grill to the hot dogs to the patio set.
The lessons are quite clear. Those that survive understand that to stand still is the eventual death knell. Businesses must change with technology and with customers’ ever evolving needs.
We are reminded of a small Providence camera store, United Camera, opened decades ago. As the photography business changed, so did United Camera. And then came computers and the Apple, and a complete changeover in the business, including a name (Unicom) that is now among our most impressive technology firms. Not a camera to be found, but the same family enjoying the prosperity that comes with an understanding that change is the fodder for continued success.
